XLE vs. AVES
XLE (State Street Energy Select Sector SPDR ETF) and AVES (Avantis Emerging Markets Value ETF) are both exchange-traded funds - XLE is a Energy Equities fund tracking the Energy Select Sector Index, while AVES is a Emerging Markets Equities fund actively managed by Avantis. XLE is passively managed, while AVES is actively managed. Over the past 3 years, XLE returned 16.18%/yr vs 19.19%/yr for AVES. At a 0.30 correlation, their price movements are largely independent. XLE charges 0.08%/yr vs 0.36%/yr for AVES.
Performance
XLE vs. AVES - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XLE achieves a 29.56% return, which is significantly higher than AVES's 15.51% return.
XLE
- 1D
- 0.75%
- 1M
- -0.90%
- YTD
- 29.56%
- 6M
- 28.37%
- 1Y
- 34.84%
- 3Y*
- 16.18%
- 5Y*
- 20.12%
- 10Y*
- 9.91%
AVES
- 1D
- 0.32%
- 1M
- 0.12%
- YTD
- 15.51%
- 6M
- 18.20%
- 1Y
- 31.51%
- 3Y*
- 19.19%
- 5Y*
- —
- 10Y*
- —
XLE vs. AVES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XLE State Street Energy Select Sector SPDR ETF | 29.56% | 7.88% | 5.56% | -0.63% | 64.32% | 6.29% |
AVES Avantis Emerging Markets Value ETF | 15.51% | 30.49% | 4.50% | 16.79% | -16.04% | 0.95% |
Correlation
The correlation between XLE and AVES is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.30 |
The correlation between XLE and AVES shifts across timeframes, from -0.04 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XLE vs. AVES — Risk / Return Rank
XLE
AVES
XLE vs. AVES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Energy Select Sector SPDR ETF (XLE) and Avantis Emerging Markets Value ETF (AVES). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| XLE | AVES | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.31 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.10 | 2.32 | +0.78 |
| Martin ratioReturn relative to average drawdown | 8.63 | 8.40 | +0.24 |
Loading charts...
Drawdowns
XLE vs. AVES - Drawdown Comparison
The maximum XLE drawdown since its inception was -71.26%, which is greater than AVES's maximum drawdown of -27.40%. Use the drawdown chart below to compare losses from any high point for XLE and AVES.
Loading charts...
Drawdown Indicators
| XLE | AVES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.26% | -27.40% | -43.86% |
Max Drawdown (1Y)Largest decline over 1 year | -12.05% | -12.90% | +0.85% |
Max Drawdown (3Y)Largest decline over 3 years | -20.14% | -18.50% | -1.64% |
Max Drawdown (5Y)Largest decline over 5 years | -26.04% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -66.81% | — | — |
Current DrawdownCurrent decline from peak | -8.01% | -2.45% | -5.56% |
Average DrawdownAverage peak-to-trough decline | -17.97% | -7.70% | -10.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.32% | 3.56% | +0.76% |
Volatility
XLE vs. AVES - Volatility Comparison
The current volatility for State Street Energy Select Sector SPDR ETF (XLE) is 7.26%, while Avantis Emerging Markets Value ETF (AVES) has a volatility of 8.89%. This indicates that XLE experiences smaller price fluctuations and is considered to be less risky than AVES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XLE | AVES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.26% | 8.89% | -1.63% |
Volatility (6M)Calculated over the trailing 6-month period | 16.79% | 15.88% | +0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.57% | 18.34% | +2.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.05% | 17.20% | +8.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.58% | 17.20% | +12.38% |
XLE vs. AVES - Expense Ratio Comparison
XLE has a 0.08% expense ratio, which is lower than AVES's 0.36% expense ratio.
Dividends
XLE vs. AVES - Dividend Comparison
XLE's dividend yield for the trailing twelve months is around 2.59%, less than AVES's 3.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 3.53% | 3.17% | 4.09% | 3.96% | 3.70% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XLE State Street Energy Select Sector SPDR ETF | 2.59% | 3.28% | 3.36% | 3.55% | 3.68% | 4.21% | 5.62% | 6.72% | 3.54% | 3.03% | 2.26% | 3.39% |
Frequently Asked Questions
XLE and AVES have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVES has higher volatility (8.89%) compared to XLE (7.26%). In terms of maximum drawdown, XLE dropped -71.26% vs AVES's -27.40%.
On 3-year performance, AVES leads with 19.19% vs 16.18% for XLE. On fees, XLE is cheaper at 0.08% per year. On volatility, XLE has been the lower-risk option at 7.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AVES has performed better with a 19.19% return vs 16.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLE is cheaper with a 0.08% expense ratio, compared with 0.36% for AVES.
AVES has the higher dividend yield at 3.53%, compared with 2.59% for XLE.
XLE is categorized as Energy Equities, while AVES is Emerging Markets Equities. They also come from different issuers: State Street and Avantis. Their fees differ too: 0.08% for XLE and 0.36% for AVES.
XLE currently has the higher Sharpe Ratio (1.82 vs 1.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for XLE and AVES
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer